Did you know that nearly two thirds of Americans haven't even done basic estate planning?
There is often a mountain of paperwork that needs to be dealt with when a loved one passes away. Did you know that you have to file taxes for someone after they die? Or pay their bills on time to avoid penalties?
You can remove a lot of the burden on your family by taking these simple steps:
- Update the contact and beneficiary information on all of your important accounts (retirement, investment, insurances), then set a calendar reminder to check it yearly for accuracy.
- Take inventory of all your assets and expenses and keep them in a safe place with your important documents.
- Complete an Advance Health Care Directive with your desired medical and end-of-life instructions.
- Select someone to serve as executor or trustee to oversee your estate.
- Review your assets and medical wishes with your executor or trustee and then store the information somewhere secure.
Call The Family Formation Law Center for a complimentary review of your current estate plan and a discussion of your needs 310-598-6428.